Colleges have faced increased pressure in the last year from student and environment activists to sell off investments in fossil fuel companies, but most colleges that have acted on those requests have very small endowments, and relatively few such investments to start with. Brown University (which has a substantial endowment) on Friday announced that its board had discussed but not voted on the recommendation of the Advisory Committee on Corporate Responsibility in Investment Policies that the university sell holdings in 15 companies that mine or burn coal. A university statement said that no formal action was taken on the advisory panel's report.
A Brown statement said: "During the business meeting of the corporation, members asked the university to identify ways to work with students, faculty, staff, peer institutions, and other strategic partners to develop a robust response to climate change and to assume a greater leadership role on the issue of CO2 emissions. Corporation action on the issue of divestment was not expected at this meeting, and the corporation confirmed that the complexity of the divestment issue warrants further discussion before responding to the ACCRIP’s recommendation."
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